Crest Financial Services, LLC

Ms***' account with Crest Financial reflects her settlement and has been retracted from NAR for any further actionNAR will no longer appear on her credit report after the next reporting cycle

Complaint: [redacted] I am rejecting this response because: Sincerely, [redacted] ***I called the business today and was informed my pay off date is 03/06/after informing the rep that that's the 3rd date I received I was placed on hold, when the rep returned she informed me that they can not currently give me a pay off date and indicated I would get a text message as soon as everything has been updatedI did sign the lease agreement which does not include a pay off date

We have expedited funding and it will post in her account by tomorrowWe apologize for the frustration this delay has caused

This is acceptable and I will mail the product back to them (with insurance) by tomorrow at the latest. Thank you for your help resolving this matter. RevDex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me. Sincerely, William M***

Upon investigation, which included conversation with the retailer as well as a thorough review of all call notes and recordings, it appears Ms [redacted] may be confused as to the resolution provided to her by the retailerThe original transaction covered a mattress for $and platform bed for $ The mattress and platform bed were not the right sizes in order to work as a set, which caused the platform bed to breakThe retailer repaired the platform bed twice, and after the second repair decided to exchange the one she had for a new oneBecause it is a larger size platform bed and a higher quality item, its retail price is $Ms [redacted] has, in fact, received a significant product upgrade for no additional chargeHer rental purchase agreement requires bi-weekly payments of $Should she choose to exercise her 90-day buyout, that amount would be $and is due no later than June 27, After that date she can exercise the early buyout option detailed in her rental purchase agreement (attached for reference)

We understand Ms [redacted] 's frustration, and in a measure of good faith will waive any additional costs or fees and mark her account paid in full as of 2/28/

At Crest Financial, we provide families with no credit needed lease options through selected retail partnershipsWe do not offer loans, instead we offer leases with a day buyout optionWe try to help customers without access to traditional credit financing by providing them the ability to own merchandise they may not otherwise be able to affordWe also try to help these customers by reporting their positive payments to the credit bureau Equifax, although this is not a service that we currently advertise because we cannot guarantee resultsWe report payments to Equifax a month after a payment is madeIt may take as long as months for our reports to show up on the customers report and we cannot guarantee that our information will show up at all, or have any impact on the report or scoreWe do not make any promises or guarantees at all about credit reporting because ultimately it is out of our handsOur customer service agents could answer this and any questions about credit reporting, but the customer elected not to contact us is any way before filing this complaintWe encourage the customer to be patient and to reach out to our customer service with any future questionsThey will be happy to help

We greatly appreciate your polite request and we apologize for the error in reporting your creditOur automated credit reporting system went down last year and we are still trying to find and update all of the erroneous reportsOn October 12, we submitted an update to Equifax reporting that your lease is now Paid OffIt may take some time before the revision appears on your reportOnce we have submitted an update, it is up to Equifax when the report is updated to matchUnfortunately, your report will still show that you were past due at some point during your leaseYour account was past due for several months on two different occasionsHad you called us before you missed your first payment, we might have been able to help by temporarily suspending payments, keeping you from becoming past due; but after this much time, we cannot simply remove the correct reportingYour report will show that you made your final payment on April 21, and that you paid the lease off, which closed the lease

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me because my credit report has finally been updated correctly Sincerely, Dashinka B [redacted] 8/14/ Complaint I paid off a loan within days, never lateHowever, my Equifax credit report shows the status as being a paid charge off which is absolutely falseI immediately contacted Crest Financial upon discovering this, however they were very unhelpfulI have filed disputes with Equifax but results were unsuccessfulI have proof that I never paid late (which I provided to Equifax) the loan was paid off in paymentsI just need them to correct the Equifax file from their side to correctly reflect my payment historythis is currently having a very negative impact on my credit score Desired Resolution I would really like for the business to correct my credit report asapI have worked extremely hard to repair my credit and find it disheartening that a company can be so careless and disregarding with something as important as an correctly reporting accounts to the credit bureaus Consumer Business Dialog

We appreciate your time in providing this feedback to usWe've been providing leasing solutions for over years and have hundreds of thousands of customers who have successfully navigated the application process over that span of timeWe're sorry your experience wasn't a good one, and we would like to re-extend our invite for you to re-apply once days has passed from this application that was not approvedWe hope to have you as a satisfied customer in the future!

We apologize for the delay in responding to this issue, however it required a very thorough investigationMr [redacted] (and his authorized user [redacted] ) has used seven different payment methods since the inception of this lease in January In addition to his checking account, he has also used credit or debit cards ending in ***, ***, ***, ***, ***, and ***The accounts ending in [redacted] and [redacted] were the accounts that were declined as payment attempts were processedWe found that the account ending in [redacted] was declined between June and for reasons relating to the merchant processing system we useThe account ending in [redacted] was declined because the customer entered the expiration date incorrectly in the online portal on July and payment attempts from that date until September were declined for that reasonIt was during a call from the customer on September when a manual payment entry was processed that the incorrect expiration date was discovered and correctedThis account is scheduled for weekly payments of $Mr [redacted] has not made a payment since September and, because of this, his account is currently past due in the amount of $126.00, which includes payments scheduled for September 21, September 28, October 5, and October There is also a $phone pay fee from September to be paid, however all other fees, totaling $90.00, have been waivedPlease see attached fee schedule and payment history documentsThe customer is eligible for payment assistance due to his residence in the national disaster area of Florida after Hurricane Irma, and payments past due will be moved to the end of the leaseHowever, Mr [redacted] must make his weekly payment of $on October 19th in order for this offer to be validatedUnfortunately, we cannot correct the credit reporting relating to the payments that were declined during the course of this lease because they are related to the customer’s actions and responsibilitiesThe customer is an active user of his online account and it is clearly noted on the payment history when a payment doesn’t clearWe made many attempts to contact the customer when these payments didn’t clear, and were unable to speak with himThe customer didn’t reach out to us until September to request that we investigate the declined payments for the account ending in ***We have been unsuccessful in trying to reach Mr [redacted] via numerous daily phone calls since this inquiry was filed, and when we reached Ms [redacted] (authorized user) on October 2, she referred us to himUntil we speak with either Mr [redacted] or Ms [redacted] , we cannot move forward with adjusting this accountPlease contact us at your earliest availabililty at (855) 552-

The signature on the document is one that was electronically generated by Mr [redacted] The industry-leading tool used by Crest Financial for this purpose is secure and provides a complete audit trail of all activities related to the digital signature on the transactionNote the bracket around the signature with the annotation of the PKI (public key infrastructure) codeThat code is associated with the document having been received and responded to from Mr [redacted] ’s email address, which makes it a legally binding signature (please refer to attached certificate from DocuSign)It may be the case that a representative of the retailer verbally presented inaccurate information to Mr [redacted] regarding the terms of our program, and we’re sorry to hear about the distress this has caused himAlthough we provide regular training to all retailers who present our lease-to-own solution to their customers, we ultimately depend on our own communication directly with the customer to ensure complete understanding of the termsThe welcome call from our representative to Mr [redacted] was conducted five minutes after we transmitted the lease agreement for approval and received his signatureIn that call we covered all the terms in detail, including the fact that Mr [redacted] had entered into a lease purchase agreementThis call is scripted to ensure consistency, and customer-specific details such as payment amount and frequency are includedAlthough we are confident that the transaction is not fraudulent, the fact remains that Mr [redacted] may have been given inaccurate information by a retailer and failed to review the agreement in detail before signing itSo, in the spirit of good business, we’ll mark his account as paid off after the scheduled payment from 11/17/clears his bank accountIf that payment is returned to us by his bank, this offer will be retracted

Regardless of Ms***’s intentions, she signed a legally-binding lease agreement that clearly states ownership options that must be met in order for her to own the merchandiseThe steps for terminating the agreement and returning the merchandise to us are detailed in section of the lease agreement attached previously in this thread of communicationUnfortunately, refunding any portion of Ms***’s lease payments thus far is not an optionWe’ve already identified a discounted payoff amount of $1,116.35, which Ms [redacted] has summarily rejectedIn an effort to meet Ms***’s request for a further-reduced payment amount, we’re willing to accept $as a final payment which is 50% of the remaining total amount due under the terms of the leaseThe conditions of this offer are: 1) it must be received in total no later than days from the date of this posted response, and 2) a currently processing payment of $must clear Ms***’s bankMs [redacted] may split the payoff amount of $into whatever payment configuration is convenient to her, as long as the payments are received by us no later than days from the date of this posted responseMs [redacted] will need to contact us at (855) 552-to schedule those payments and change her current auto-draft schedule

We appreciate the responsible payment history Mr [redacted] has shown throughout the term of his lease, and are disappointed to hear that he’s confused about the terms of the agreement he signedAlthough we provide regular training to all retailers who present our lease-to-own solution to their customers, we ultimately depend on our own communication directly with the customer to ensure complete understanding of the termsA welcome call from our representative to Mr [redacted] was conducted on 3/25/17, within an hour after we transmitted the lease agreement for his review and electronic signatureIn that call we covered all the terms in detail, including the fact that Mr [redacted] had entered into a lease purchase agreementThis call is scripted to ensure consistency, and customer-specific details such as payment amount and frequency are includedHe also received a copy of the lease via email at the time of transaction, and a follow up welcome email describing the same information as in the welcome callWe’re confident that we fully explained the transaction terms during these interactions, regardless of whether Mr [redacted] may have been given inaccurate information by the retailerMr [redacted] has eight remaining bi-weekly payments of $remaining in order to own his merchandise, with the next one being due on 12/29/

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me for the time beingI am going to follow up in days, again in days, then again in daysI would appreciate accurate information from Crest Finacial at the time of those follow ups as to not provoke miscommunicationI do appreciate those working diligently to resolve this matter Sincerely, [redacted] ***

At Crest Financial, we provide families with no credit needed lease options through selected retail partnershipsCustomers select their merchandise from their local retailer, pay and initial payment and sign the lease agreementAt that time, Crest Financial pays the retailer for the merchandise and the customer is entered into a 12-month lease with payments scheduled according to their payment schedule.Because we offer leases, rather than loans, we do not charge interestInstead, we charge a one-time lease fee at the beginning of the leaseThis fee is based on the cash price of the leased merchandise, not on a remaining balance at any point during the leaseAs our agent explained on the phone, we offer a day buyout option which offers significantly discounted fees to customers who buy out their lease within the first daysMs***’s 90th day was 11/20/After that time, she was responsible for the full amount of the lease, including all lease feesAll of these terms are explained in Item of the attached, signed lease agreement, which is legally binding.We can offer Ms [redacted] an early buyout discountIf Ms [redacted] pays a total of $ [redacted] before 5/31/16, her lease will be closed as paid in full

At Crest Financial, we provide families with no credit needed financing through selected retail partnershipsCustomers select merchandise through their local retailerAt checkout, Crest Financial pays the retailer for the merchandise, and the customer signs a month lease agreementItems and of the lease agreement explains that we can attempt to draft payments any time on or after the due date and may resubmit missed payments at a later time on a different cardWhen the customer’s payment, scheduled for November returned, the customer made other arrangements with one of our representatives to make up the payment, however, when another scheduled payment on November returned, the customer did not make repayment arrangementsAt that point, we are authorized to draft from other accounts on file to bring the account to a current statusUnfortunately, we will not be able to remove credit cards from our system as they are authorized for use in the lease agreementOn November 27, we drafted a random payment from a credit card as explained above This brought the account to a current status so if all other scheduled payments clear fully, there will be no further need for random paymentsAll future payments are scheduled to be made on the credit card ending in ***If the customer would like to make changes, they can call into our customer service line

At Crest Financial, we provide families with no credit needed lease options through selected retail partnershipsCustomers select merchandise from their local retail stores, Crest pays the retailer for the merchandise, and the customer enters in to a month lease with Crest Financial, at the end of which they own the merchandiseAt the point of sale, customers sign a lease agreement which explains all the terms of the leaseWe have attached a copy of the lease agreement for referenceBecause we offer leases rather than loans, we do not charge interestWe charge a one-time lease fee at the start of the leaseThis is explained in Item of the lease agreement and in the box on the first page of the lease agreement (where the customer signs) labelled “Cost of Lease Services.” We offer a significant discount to customers who buy out their lease within the first daysUnfortunately, the customer is well past their 90th day and this option is no longer availableWe do offer another discount to customers who buy out their lease with one final payment any time after their 90th dayIf Ms [redacted] pays $1,before the next scheduled payment on May 4th the account will be closed as paidThat discount will still be available after that date, but the amount may change slightly depending on the status of the scheduled paymentOur collections team may be able to work out other payment arrangements with Ms [redacted] She can call them at ###-###-####

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me Sincerely, [redacted] ***

We apologize for Mr [redacted] ’s confusion regarding his account with Crest FinancialTo clarify, on 12/20/16, he electronically signed (via DocuSign) a 12-month rental purchase agreement for his merchandiseA copy of that e-signed agreement is attached for reference (note the unique Envelope ID code on each page and above his signature on the first page, which is authenticated using interactions via his personal email account)Mr [redacted] also received a copy of the agreement via email ( [redacted] ) when he electronically signed the documentThe terms of that agreement reflect weekly payments (per summary grid on page as well as section within the agreement), and sections and describe the automatic payment process via ACH draftPer the agreement, we must receive regular payments as scheduled or the account will be considered delinquent and late payment fees will be charged (details in sections 8, 10, and 11)Although we offer early ownership options that include a 3-month buyout equal to the initial payment plus the cash price, that does not fit the definition of what Mr [redacted] refers to as “days same as cash.” Because we require confirmation that merchandise has been received in good condition by the customer before we consider an agreement to be fully executed, the three-month period for the early ownership option mentioned above was rescheduled from the date of the lease (12/20/16) to begin on 1/30/17, which is the date we confirmed the merchandise had been received by Mr [redacted] We note that Mr [redacted] has created and logged into his online customer portal account as of today (2/8/17), so he is aware of his 3-month buyout date and the amount he will need to pay prior to that date in order to avoid paying additional rental fees associated with the 12-month agreementAlthough we do require regular payments to be made, Mr [redacted] is welcome to contact our support team at (855) 552-to modify his payment schedule from its current weekly status, which we will do for him and waive any associated service feesHe can then manage extra payments online via his portal account in order to reach the payoff amount by his 3-month payoff date of 4/30/We hope this is helpful in helping Mr [redacted] better understand the terms of his transaction